100,000 New York City Apartments Gone In The Middle Of A Housing Crisis

[rangerrebew]

100,000 New York City Apartments Gone In The Middle Of A Housing Crisis
©Source: Wikimedia Commons / Freepik/wirestock

Amid a housing crisis, 100,000 apartments vanished in New York City. Thousands of city dwellers are left struggling to find a place to rent. With so many buildings in such a large metropolitan area, it may seem impossible. So, what really happened to the housing market? After all, these apartments had to go somewhere.

https://www.msn.com/en-us/money/realestate/100-000-new-york-city-apartments-gone-in-the-middle-of-a-housing-crisis/ss-AA1n4qOb?ocid=msedgdhp&pc=HCTS&cvid=dba5fdf27f13425bab6a185c12afccb3&ei=53#image=1

[Cyber Liberty]

Rent Control?

[SZonian]

Rent Control?

Nope, they're pointing at gentrification and greed via the following statement: "...many New York City multi-family buildings have undergone conversions. More than 100,000 units have been absorbed into others, creating larger luxury apartments. This practice leads to more comfort and space for those expanding. However, fewer apartments are available for the hungry housing market."

[Cyber Liberty]

Nope, they're pointing at gentrification and greed via the following statement: "...many New York City multi-family buildings have undergone conversions. More than 100,000 units have been absorbed into others, creating larger luxury apartments. This practice leads to more comfort and space for those expanding. However, fewer apartments are available for the hungry housing market."

I stand corrected!

Sounds like another woe to hang around the necks of people who decide to move in and improve the properties, while also spending more.  That evil Gentrification rears it's head.